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Local real estate market on the rebound

Weiser Signal American of Weiser, Idaho

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Weiser real estate agent Darwin Adams said his office is seeing more activity these days.

Adams, who has been in the business for 44 years, said prices for single-family homes in Weiser have been slow to appreciate. But on the bright side, they are not falling, either.

Since the housing market imploded during the Great Recession, it's been a slow slog back for housing prices.

While home prices in Boise are rising 10-12 percent annually, Weiser is a little farther out. Homes here have appreciated maybe 5 percent over the past three years, if even that, one local real estate agent guessed.

Adams said existing single-family homes in the $80,000 to $150,000 range in Weiser are selling well. That price point is appealing to working families. Expensive homes priced at over $200,000 are harder to sell.

"That's what people can afford with payments," he said.

He said his office could use more acreage listings. He has customers right now who want the small acreages with a shop. Five to 10-acre properties with three-bedroom, two-bath homes are bringing good prices and in short supply.

"There just, isn't enough of them," said Adams, who is co-owner of Realty World Horner West Real Estate in Weiser.

The price of farm ground has been going up, and there are not many farms on the market right now. There are variables that influence the price, such as soil quality.

Adams sold a 300-acre farm a couple of months ago, but they don't come up for sale that often. He did mention that "some big outfits" have bought up farmland in the area. Local Broker Rod Panike, with Select Properties, said the real estate market in Weiser is coming back. It's not a boom, but it's been steady. The demand for homes is going up and in time the values will come up as well.

"I haven't seen a big increase in values. They've just kind of held their own," he said.

It's a mix of buyers in the market, everyone from first-time homebuyers to retired people. He has more buyers than sellers for certain types of properties, especially small acreages out in the country.

While fewer existing homes were sold in 2014 compared to 2013 in Washington County, which includes Midvale, Cambridge and Weiser, they brought higher prices, according to the Intermountain Multiple Listing Service.

A total of 97 singlefamily homes were sold in 2014, a decrease of 12 percent from the 109 homes sold in 2013. In 2012, there were 87 single-family homes sold.

The average home price in2013 was $119,273. That rose to $134,672 in 2014, a bump of 13 percent, but the average sale price in 2014 was flat compared to the 2012 average price of $136,885. Homes spent fewer days on the market in 2014 at 115 days versus 132 days in 2013.

The value of all homes sold in 2014 in Washington County totaled $13,198,617, a slight increase of 1.16 percent over the $13,047,099 posted in2013. In 2012, the total value of home sales in Washington County was $11,909,017.

In outlying areas, nine single-family homes sold in Cambridge in 2014 with an average price of $162,867. In Midvale, six homes sold in 2014 with an average price of $99,150. Sales of existing homes in Midvale and Cambridge made up about 15 percent of the total number of homes sold in the county, according to the MLS.

Last year, 23 percent of the existing single-family homes that sold in the county were listed at $69,999 and under. Homes priced in the $120,000 to $159,999 range were a larger percentage of the overall sales in 2014 at 25.7 percent.

Neighboring Payette County saw the number of home sales and the total dollar amount rise in 2014 over 2013. A total of 290 homes were sold in 2014, about 13 percent more than the 257 homes sold in 2013.

The total value of homes sold in the county in 2014 was $42,104,868, an increase of 28.69 percent over the $32,719,285 in home sales in 2013.



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Original Publication Date: April 8, 2015



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